Companies registered in the Seychelles can become victims of bank failure and investment fraud. Additionally, bank accounts of Seychelles companies can be blocked or terminated. To avoid lengthy, uncertain and unpredictable procedures, Legal Floris LLC provides, among other things, asset and fund recovery services for Seychelles companies and their beneficiaries. At the other side of the spectrum, Seychelles may be used to defraud investors. In these events, Legal Floris LLC conducts global asset tracing, confiscation and recovery procedures on behalf of its clients.
There are different options to open a bank account for an offshore international business company incorporated in the Seychelles. Alongside the traditional offshore banks and the international business units of several international banks, electronic money institutions allow Seychelles companies to operate internationally and utilize modern fund transfer facilities. The crucial difference between traditional (offshore) banks and electronic money institutions should be considered before opening the bank account for any offshore company.
By following the local rules in the Seychelles, owners can ascertain that a Seychelles international business company (IBC) can be considered as local tax resident. This corporate tax residency enables the IBC to receive tax exempt status for profits from activities outside the jurisdiction. Even though no audited financial statements are required by the local regulator or tax authorities, the companies law dictates that holding up to date management accounts is mandatory as part of the maintenance of the company. The latter may also be required by the bank where an account is maintained in the name of the IBC.
A holding company in the Seychelles can benefit from tax exempt status in the Seychelles. Beneficial owners of the Seychelles holding company must realise that there is a difference between corporate taxation and personal taxation and that payments from the Seychelles holding company into the private domain must follow the rules in both the home state as well as the host state. Holding companies in the Seychelles are used for different purposes. These include holding IP rights, majority shareholdings in subsidiaries and investments.
The Seychelles company law and infrastructure to incorporate an international business company allow for fast and easy company formation. The administrative procedures include know your client and further due diligence on the beneficial owner of the prospective entity. Incorporating a Seychelles company involves the assistance of a licensed corporate service provider who gathers all required information and does the formal application to incorporate. With the help of Equation CS, entrepreneurs can start this application procedure and incorporate in the Seychelles.
International tax laws are complex. Companies trading in a global environment need to ensure that sufficient substance and presence of their company is created in the country of incorporation. Conflicts between jurisdictions and authorities over the right of taxation depend on the infrastructure of the company. To strengthen the position of the offshore company and confirm tax residency in the Seychelles, management duties and administrative tasks can be outsourced to external professionals. Such services can be provided to you by or through Equation CS.